Integrated accounts with large excesses

The UK is wastefully over-insured: time for streamlining argues Warburg director

By

Clive Wolman

March 2, 1998 5:00 p.m. GMT

Anthony Hotson, a managing director of Warburg Dillon Read and head of its financial institutions group, has produced a radical critique of the UK's insurance industry and proposals for its streamlining and shrinkage.

Flatly contradicting the perennial claims of insurance company stalwarts, Hotson argues that the UK population as a whole is hugely and wastefully over-insured.